In the last few solocast episodes of Fueling Deals, we have taken a look at some of the major talking points from my book, Authentic Negotiating. So far, we have covered the Clarity, Detachment, and Equilibrium framework, the top six reasons negotiations fail, and the five steps to becoming a great negotiator. So, if you didn’t get a chance to read the book or listen to those episodes, I highly encourage you to go back and cue them up; there are a lot of great negotiating tips that you don’t want to miss.
In the latest episode of Fueling Deals, we dive into another topic from my book that covers inauthentic negotiating techniques and how to handle them.
The Empty Promise: Somebody makes a promise that they know they’re not going to fulfill in the end. You may choose to challenge their promise upfront to test its validity, then use CDE to keep a level head while you decide how to move forward.
The Big Fish: There may be a difference in scope or size with one negotiating party vs. the other. This can be approached with the notion that even a small fish has leverage because there are alternative plays, otherwise, the negotiation wouldn’t be taking place.
Nibbling: There is always another ask as you get closer to finalizing a deal. Sometimes a candid response is the best approach and it is okay to call them out for adding new terms. Figure out what needs to happen for the deal to move forward, and clarify whether or not there will be additional terms down the line.
Quivering Quill: Similar to Nibbling but it is carried out at the closing table to apply more pressure on the other negotiating party. Don’t get triggered or thrown off your game; instead, step back and evaluate whether the last minute concession works for you and whether this is someone with whom you want to do business.
Limited Authority: The other negotiating party abdicates the decision-making responsibility because of their position in the company hierarchy. While this may be authentic in theory, it is often used as an excuse. Stay calm, don’t let it affect you and decide whether or not they are the right partner for this deal in the first place.
Even ‘good’ negotiating tactics are supplementary to our core dealmaking framework, and no tactics or techniques can be substituted for fundamental skills. But you will frequently encounter authentic and inauthentic negotiating techniques regardless. The bad techniques reek of shady business practices and low credibility. And while you might never use them yourself, you need to know how to spot and deal with inauthentic negotiators on the other side of the table.
You can listen to the full episode here.
Corey Kupfer is an expert strategist, negotiator and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.
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